Strategizing beyond Budget
Establishing Strategic Planning as the cornerstone of the performance management cycle.
Strategic Challenge
A world-leading financial services firm’s C-level & senior executives expressed a 22% satisfaction rate about the planning process. Beyond the figure: a sole financial focus on “next year budget”, a disconnect with business-oriented decision-making, and a lack of visibility on businesses’ & support functions’ contribution to the corporate strategic objectives.
Approach
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We performed a capability assessment of the entire performance management cycle i.e., planning & budgeting, forecasting & monitoring.
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Based on these insights, we prioritized strategic planning best practices.
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Through strategy mapping, we reframed the client’s corporate, business, and functional strategies to identify key value drivers at each level.
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We then leveraged the value drivers and best practices as the foundations of a new “value-based strategic planning” process design customized to the client’s organization.
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Finally, we designed a 6-month implementation roadmap.
Impact
Client’s executive leadership team disposed of its first-ever value-based strategic planning process to relearn the virtues of strategizing beyond budgeting.